Closing Costs On Buying A Home - How Much Are They??

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[GGee_]

Didn't know about the first monthly payment being on the 3rd month possibly. *Birdman handrub*

[everydaybodybuilding]

Life hack. Closing costs don’t matter if the house you are looking at went up 120k in 2 years with double the interest but your wages are relatively similar so you can’t afford the house anyway

[ehren]

You are killing us Texans on your pronunciation of Lubbock. Say it like Lub-ick. Much love from Texas

[kadiatou]

I paid $17, 135 dollars plus down payment for 200k house lol I was shocked how expensive the closing costs were.

[ix_conscious_xi]

Bro, this video couldn’t come at such a perfect time. Last weekend, I put down an earnest deposit for a new build. Right now, in the process of shopping around for a loan after being pre-approved. The estimated closing date is at the end of next month *fingers crossed*. After seeing a couple loan estimates, knowing exactly what the closing cost and title transfer cost is, is like pulling teeth. Hopefully, it gets better since this is only day 4..Thanks for all of the information you share. It is very helpful and kept me motivated when keeping my eye s on the market.

[ReidCoffman]

In spite of how everyone is frightened and calling the crash, there is already an excessive amount of demand waiting to absorb it, which is another reason it's less likely to happen that way. This forecast was not made in 2008, at least not by the general public, as I will explain below. The ownership rate peaked in 2004, according to the other comment. We reached a peak in the second quarter of 2020 and are currently at the median level. From 2008 to 2012, it fell by 3%, and in the second quarter of 2020, it dropped from 68 to 65.

[mesaseany]

Got my mortgage approved literally yesterday...so perfect timing for this video. What a nightmare of paperwork.... now with my lawyer trying to set up the closing date. Also did not realize I won't have a payment until roughly 1-2 months after. EDIT liked the second example. Here in Long Island NY my closing costs are around $29K. My lawyer caught the additions to the home did not have certificate of occupancy and got them to pay for the certificates. But the closing process sucks...

[vulpixelful]

I agree about the home warranty. It's better just to save yourself. During the inspection, you should have a good idea of what major repairs (water heater, hvac, roof) would need to be done soon vs what was replaced more recently. I only took the warranty because my realtor bought it for me as a gift for the first year. I didn't renew it after that, since I was contributing to my house fund all the year instead.

[miajean]

Wow!!!! Thank you so much for educating me. I’m so thankful for ppl on YouTube like yourself that cares enough to teach things you guys have learnt ❤be blessed

[clarapinto]

I closed on Jan 13th and my first payment is due March 1. Luckily my builder paid my closing costs.

[juniorcruz]

Hey Javier can you do a video on buying raw land for building a home, or installing a mobile home.

[delawxoxo]

Man, you are the realest man out here... Farting Fees I spit my water out on my computer but your right and don't forget the breathing fees.

[DoubleOhSilver]

My city is finally looking into regulating short term rentals! 🥳 Signs of a local housing correction/crash are finally here. When student loans resume in June, that should really kick things off. I can finally start looking for housing again by then.

[TheBleachedazn]

Hey Javier. Thanks for explaining these closing costs in an itemized list! I wanted to ask, since you've listed hazard/home insurance twice on your prepaid list, if the hazard insurance prepaid (for the first year) is pro-rated for the first four months since you've already paid the lender (in case #1) for the first four months of the insurance?

[tripledsweetiey]

Thank you for showing Texas. The house I’m getting in DFW the property taxes are $5500 a year for a $285k home.

[captainviper]

In California not sure about AZ you will get a (one time) supplemental tax bill that is NOT part of the closing cost estimate. Several thousand dollars depending on house price. The tax estimates in closing costs is a poor process that won't give you the real amount and that's why the adjustment comes your way. Do Not be thrown off guard.

[_Renee]

Thank you for breaking this down. I am reviewing my redisclosure now and this video helps a great deal!

[stacysmom]

Can you go more into the pre-approval? Are they soft pulling your credit if you look into a couple different lenders for a quote?..then pull it again when you actually find a house, or just the ladder? I appreciate more details as to the process and the step by step .. thanks!

[working_to_hunt]

Can you discuss paying your brokers commission fee upfront versus it being buried in the lenders rate?

[carlos-bkum]

My buddy bought and all he put down with a FHA was 5k for everything...